Research Briefing

Today, Obama Is Retreating Back Into The D.C. Bubble To Announce Stimulus II. “Obama plans a speech on Tuesday at the Brookings Institution where he plans to outline a set of proposals to spur job growth.” (Caren Bohan, “Obama Vows Steps To Restart Job Growth,” Reuters, 12/5/09)

Because His “Main Street Tour” Got “Cool Reception” Outside The Beltway. “When President Barack Obama launches a multicity tour Friday to take Main Street’s temperature, he will likely get a cool reception from business leaders and workers here who say he hasn’t delivered … Small businesses that power the economy here are starved for credit and laying people off. Stimulus dollars for roads, bridges, schools and social services are mired in Washington and state bureaucracy.” (Elizabeth Williamson, “Main Street Tour Faces Frosty Greeting,” The Wall Street Journal, 12/4/09)

And Obama Delayed Further Stops Until January 22. “President Obama’s next trip on ‘Main Street tour’ on the economy will likely come on Jan. 22, 2010 ...” (“W.H. Previews Next Main St. Stop,” Poltico’s “44“ Blog, 12/7/09)

So What Do You Need To Know About Stimulus II?

1.       Stimulus II To Look Exactly Like Stimulus I: More Government Spending. (Eamon Javers, “New Jobs Plan May Be More Of Old One,” Politico, 12/5/09)

2.       Stimulus II Being Pushed By Those Who Created Stimulus I, Won’t Include Any Input From Actual Job Creators. (Kara Rowland, "Critics Not Invited To White House 'Jobs Summit,'" The Washington Times, 12/2/09)

3.       Stimulus II Could Cost Up To $300 Billion. (Walter Alarkon, “Job Proposals From Democrats Could Add $300 Billion In New Federal Spending,” The Hill, 12/3/09)

4.       Despite Promise To Use TARP Money To Reduce Deficit, Obama Now Wants To Use Funds To Pay For Stimulus II.  (Deborah Solomon, “White House Aims To Cut Deficit With TARP Cash,” The Wall Street Journal, 11/12/09; Brian Montopoli, “Will Democrats Use TARP Funds For Jobs,” CBS News’ “Political Hotsheet” Blog, 12/4/09)

5.       Many Congressional Democrats Want To Impose Economy-Killing Stock Transaction Tax To Pay For Stimulus II. (Victoria McGrane, “Dems Sour On Stock Transaction Tax,” Politico, 11/30/09)

6.       Congressional Democrats Want To Rush Stimulus II Through Passage By End Of The Year, Hiding It In Must-Pass Omnibus Spending Bill. (Jake Sherman, “House Democrats Float New Jobs Plan,” Politico, 12/2/09)

7.       In Creating Stimulus II, Obama Chooses To Ignore Proven Republican Ideas To Create Jobs. (Henry J. Pulizzi, “Summers To GOP’s Boehner: Recovery Act Is Working,” The Wall Street Journal, 10/12/09; Rick Klein, "GOP Whip Cantor To Outline Job Plan," ABC News, 12/2/09)